We analyze the impact of expansion of higher education on student outcomes in the context of competition among colleges which differentiate themselves horizontally by setting curricular standards. When public or economic pressures compel less selective colleges to lower their curricular demands,...

This paper analyzes the impact of college enrollment expansion on student academic achievements and labor market outcomes in the context of competition among colleges. When public policies promote “access” to college education, colleges adjust their curricula: Less selective public colleges...

This paper examines inequalities in the match between student and degree quality using linked administrative data from schools, universities and tax authorities. We analyse two measures of match at the university-subject level: undergraduate enrollment qualifications, and graduate earnings. We...

Using longitudinal data based on administrative registers for the population of Danish men we develop a model which accounts for the joint earnings dynamics of siblings and youth community peers. We are the first to decompose the sibling correlation of permanent earnings into family and...

We calibrate a sequence of four nested models to study the dynamics of wealth accumulation. Individuals maximize a utility function whose arguments are consumption and investment. They desire to accumulate wealth for its own sake - this is not a life-cycle model. A competitive firm produces a...

We develop a model of education where individuals face educational risk. Successfully entering the skilled labor sector depends on individual effort in education and public resources, but educational risk still causes (income) inequality. We show that an optimal public policy consists of...

In this paper, we quantitatively assess the welfare implications of alternative public education spending rules. To this end, we employ a dynamic stochastic general equilibrium model in which human capital externalities and public education expenditures, financed by distorting taxes, enhance the...

This paper examines the relationship between international migration and source country fertility. The impact of international migration on source country fertility may have a number of causes, including a transfer of destination countries’ fertility norms and an incentive to acquire more...

This paper presents the results of a randomized experiment analyzing the use of vouchers for adult training. In 2006, 2,400 people were issued with a training voucher which they were entitled to use in payment for a training course of their choice. User behavior was compared with a control group...

Assuming a two-period model with endogenous choices of labour, education, and saving, it is shown to be second-best efficient to deviate from Ramsey's Rule and to distort qualified labour less than nonqualified labour. The result holds for arbitrary utility and learning functions. Efficient...